Chinese solar power has reached price parity with coal

Like everywhere else, China has seen the cost of solar energy plummet over the past decade, with a decrease of 63% between 2011 and 2018 alone. Along with this, the installation of solar energy has increased significantly. According to a report: Currently, a third of the new solar capacity of the entire planet is commissioned in China; The country exceeded the installed capacity of the United States in 2013 and Germany in 2015, and it now has more than 250 GW active – far more than double what its economic plan had specified at this point. Given that China plans to reach net zero emissions by 2060, it is likely to continue this construction frenzy. But the forecasts are not all rosy. Most of the Chinese population is in the southeast of the country. The best solar resources (in terms of cloudless days and available land) are found in the northwest, which also happens to be sparsely populated.

This lag has left constraints on solar power due to the limits of the ability of Chinese grids to move energy over its vast distances. The output of solar power plants in the northwest has often been reduced, as there is no capacity to send it where it is needed. As a result, it has been somewhat difficult to fully understand the economics of solar energy in China. To get a clearer picture, the researchers built a model that takes into account most of the factors influencing solar energy performance. The model tracks changes in China’s technology, economy, solar resources, and grid for the period from 2020 to 2060. It used six years of satellite weather data to estimate typical productivity in different regions of the country, and it included information on existing land. use that would interfere with the siting of solar farms.

Chinese solar power has reached price parity with coal

Source link Chinese solar power has reached price parity with coal

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